An offer price of HK$5.18 would imply a zero EV. However, due to the difficult trading conditions, we think an offer would be around HK$4.00 per share.
What is covered in the Full Insight:
ACC Trading Halt Introduction
Analysis on Potential Offer Structure and Price
Voluntary Conditional Offer as Alternative
ACC's Premium Trading compared to Peers
Relative Valuation of ACC against H Share Cement Peers
SUMMARY
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